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<p class="MsoNormal">Ok, so here’s a nice set of facts to chew on for a Tuesday:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In Random County (let’s just say it is isolated and far to the east), Owner A and Owner B are neighbors. They get along well and it seems silly to them that their lots are both oddly split by County Road. So, since Owner A’s house is
on one side and Owner B’s house is on the other, they come to the logical conclusion that they should just swap the ‘split’ portions, so that all of Owner’s A property is one side and all of Owner B’s is on the other – land value equivalent. No fight or anything.
Should have been just fine.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">A & B go to the County and get permission for a BLA. In this particular County a document gets recorded called a Certificate that is the County’s approval of the BLA. Certificate says on its face that it is good for 1 year.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">County updates tax records, noting the BLA.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Years pass, but less than 7, A dies. Lender of A has contact with A’s Estate who is willing to do a DIL.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Title report comes … oh no. There is nothing on Title that actually contained words of
<i>conveyance</i> from A to B and B to A. Title’s position is that regardless of what the County and the parties think, the insurable title to the two parcels are the original ‘split’ ones.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In advising Lender, I can think of only two options: 1) Judicially foreclose since Lender’s DOT covers the split lot legal, present all of this to a judge and ask the Court to sort it out; or 2) With eyes wide open, have the Lender take
the DIL without insurance and file what would be a friendly QT action since obviously B wants the BLA legal as well. Realistically, though I see no advantage to this since it will be as much of an action as #1 – except no redemption period.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Can anyone think of another option? The only other thing that came to my mind was to get the Estate of A and B to ‘fix’ the lack of conveyance with a present deed. Issue of course being that the Cert has long since expired and basically
they would have to start over.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Sincerely,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Richard L. Holland<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><img width="175" height="78" style="width:1.8229in;height:.8125in" id="Picture_x0020_3" src="cid:image001.jpg@01D341B1.0904C240" alt="logo-for-print.jpg"><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt">603 4th Avenue, Suite 100
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">Kirkland, WA 98033
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">877.785.8734 / 866.982.5080 (fax)<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt">BE AWARE! Online banking fraud is on the rise</span></b><span style="font-size:10.0pt">.
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